Densu Associates, an organization with operations in Africa and North America, in partnership with the Mastercard Foundation, held a stakeholders' engagement meeting to assess the needs and priority areas for creating an enabling environment for social entrepreneurs in Ghana. This initiative is part of the implementation of the Social Enterprise Accelerator (SEA) Program.
The SEA Program, as explained by the Executive Director of Densu Associates, Madam Dolores Dickson, is designed to support young women leading social enterprises and those focused on empowering women. Speaking at the engagement meeting held at the Ibis Styles Hotel in Accra on August 13, 2024, Madam Dickson emphasized that the SEA Program aims to create a robust ecosystem where social entrepreneurs, particularly women, can thrive.
"Social enterprises play a critical role in addressing social, economic, and environmental challenges," she stated. "In Ghana, there are approximately 115,500 social enterprises, many of which are micro and small enterprises facing barriers such as difficulties in obtaining funding, lack of access to advisory services, and limited technical skills."
Currently in its pilot phase, the SEA Program aims to comprehensively address these challenges by providing tailored support to help social enterprises expand their reach, attract new clients, create jobs, and secure investments. The program has two primary objectives: to provide financial and comprehensive support to selected social enterprises over 12 months, enabling them to grow into sustainable ventures, and to strengthen the ecosystem for social entrepreneurs in Ghana, promoting a conducive environment for their growth and success.
The stakeholder engagement brought together over 50 key stakeholders, including policymakers, government officials, business development service providers, social innovators, entrepreneurs, financial institutions, and investors, all active within the social entrepreneurship ecosystem.
Madam Dolores Dickson revealed that the SEA Program was informed by a recent nationwide study by Densu Associates, highlighting the strong desire among young people in Ghana for work that positively impacts society. "Over the next three years, we expect the participating social enterprises to expand their reach, ultimately impacting over 1,200 individuals," she added.
Madam Dickson reiterated the organization’s commitment to building the capacity of women and providing them with the necessary support to become leaders in the social enterprise sector in Ghana.
However, it was revealed at the meeting that Ghana currently lacks a national policy to govern the social enterprise sector, which has made it challenging for industry players to access funding and attract investors to grow their enterprises.
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